I don't know for sure but i can only guess maybe the plan is to get some sort of approval for a product that can be sold in Indo and generate some income.
Regardless of how valuable we may think this approach is. It is fairly evident that the previous big CR amount of around 26 million was drained just achieving in Human safety data and some phase 1 progress. Then another 12 million that looks like it is disappearing quickly too to get to current stage. They desperately need to generate some income from somewhere i would think otherwise further dilution for all including the directors is inevitable.
Seems one can consider this akin to mining with the question "Is it a duster?". We just have to decide do we believe this product can ultimately work or is it some sort of hoax?
For me, there seem to be too many emergency access stories and early trial results to think it doesn't work. It just seems the difficulty is figuring the best application and dose. The difficulty seems to be internal application doesn't quite do what we expected so changes were made. External application also it appears had to be adjusted on the run due to results achieved? Either way it is all progress.
The timelines don't seem unusual for a "Normal" drug development approval path, maybe the incredible fast approvals for covid vaks gave everyone a false sense of how long it takes?
From a chart point of view it is certainly looking IMO like it has finally bottomed out and may be reversing? Could even call it a cup and handle forming now??
RCE Price at posting:
59.5¢ Sentiment: None Disclosure: Held
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